Friday, August 23, 2019

REDSTONE’S BIRTHDAY PRESENT: $84 MILLION

May 27, 2011 by · Leave a Comment 

Sumner Redstone on Thursday received a fine birthday present, two days before he turns 88. Viacom, home of Paramount Pictures, Nickelodeon, Spike TV, MTV, BET, TV Land, VH1 and Comedy Central, increased its quarterly dividend to 25 cents a share, up from 15 cents a share — a whopping 67 percent boost — which increases this year’s payment to Redstone’s National Amusements holding company to $41 million. Earlier this month, National Amusements’ other major holding, CBS Corp, doubled its quarterly dividend to 10 cents a share, increasing the annual payment to Redstone’s company to $17 million. Together, that’s a million dollars for nearly every one of Redstone’s years.